As per your book: Renaming the object doesnot update all the scripts which are using shared object repository.

Today I tested and found the scripts are updated. For example:

1. I created a shared or.2. New test-> associated shared or.3. add some steps with objects which are in shared or.4. save the test.5. New test-> OR manager-> rename the objects of shared or which are used in previious script. Save shared OR (donot save the blank test)6. Open the test (which is saved at step 4)